Ed Sealover, Denver Business Journal
Individual health insurance premiums will rise by more than 20 percent in Colorado next year as insurers are pulling out of the market or greatly scaling back their offerings to state residents who don’t receive their insurance through their employer.
Adam Fox, director of strategic engagement for the Colorado Consumer Health Initiative, said that some insurers redacted critical information in their filings for rate increases, leaving little to no justification for the significant cost hikes. The end result is that health insurance will become less affordable, especially for residents of the 14 counties in this state with just one insurer offering individual plans.
“We know that successful insurers in Colorado are taking steps to control health care costs, like using more integrated care models and creating plans that meet the needs of the exchange’s dynamic individual market,” Fox said. “We expect all insurers to step up and start doing more to manage skyrocketing costs, like pro-actively negotiating prescription-drug and other health care costs to get the best value for consumers.”
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